BioHiTech Global Inc. (BHTG) shares surged 8.13% in after-hours on Monday, August 09, 2021, and closed the daily trading at $1.53. In the regular trading session on Monday, BHTG’s stock lost -1.74%. The stock volume remained at 1.36 million shares, which was higher than the average daily volume of 0.64 million shares within the past 50 days. BHTG shares have fallen 19.14% over the last 12 months, and they have moved down 1.74% in the past week. Over the past three months, the stock has gained 13.20%, while over the past six months, it has declined 23.51%.
Let’s have a look at its recent news and developments.
BHTG recent financial results announcement
On August 9, 2021, BioHiTech Global, Inc. (BHTG) released its financial results for the second quarter ending June 30, 2021.
Q2 2021 financial highlights
- BHTG reported a record revenue of 5 million in Q2 2021 compared to $1.27 million in Q2 2020.
- Total operating expenses were $5.5 million in Q2 2021 compared to $3.64 million in Q2 2020.
- It suffered a net loss of $3.07 million in Q2 2021 compared to $3.38 million in Q2 2020.
- Net loss per common basic and diluted share was $0.09 per share in Q2 2021 compared to $0.16 inQ2 2020.
- The company had unrestricted cash of $2.3 million on June 30, 2021.
BHTG agreement with Lone Cypress Energy
On June 9, 2021, BioHiTech Global, Inc (BHTG), entered into a project management services agreement with Lone Cypress Energy Services, LLC to evaluate and develop new High-Efficiency Biological Treatment projects. Together, the two companies will also explore additional uses of Solid Recovered Fuel and other potential fuels that could be developed.
BHTG agreement with Carnival Corporation
On May 18, 2021, BioHiTech Global, Inc received additional purchase orders totalling approximately $2.3 million for the Company’s Revolution Series™ Digesters from Carnival Corporation. The Company anticipates fulfilling these orders in the third quarter of 2021.
The Revolution Series digesters, equipped with BioHiTech’s sophisticated proprietary data analytics platform, provides transparency into the waste stream allowing food waste to be addressed at both the point of generation and disposal.
BHTG Q1 2021 financial results announcement
On May 17, 2021, BioHiTech Global, Inc announced financial results for its fiscal first quarter ending March 31, 2021.
Q1 2021 financial highlights
- Revenue was $3.04 million for Q1 2021 compared to $1.36 million in Q1 2020.
- Total operating expenses were $4.31 million in Q1 2021 compared to $3.75 million in Q1 2020.
- It suffered a net loss of $2.3 million in Q1 2021 compared to a net loss of $3.4 million in Q1 2020.
- Net loss per common basic and diluted share was $0.07 in Q1 2021 compared to $0.16 in Q1 2020.
Conclusion
BHTG stock surged in the after-hours after the company reported record revenue for Q2 2021 and we can expect it to continue its positive momentum on Tuesday as well.
